CreditorWatch allows you to register a default against a business that fails to pay an invoice. This information is then available to other CreditorWatch companies. They can see it when they run a credit report on a particular company or they will be notified automatically if they set up alerts.
Payment defaults are unique to CreditorWatch and remain on a company’s credit report for up to five years. It is a powerful way to encourage your debtors to pay you faster. 91% of customers will not engage with a company with a default. Registering a payment default operates as a deterrent for slow or non-paying customers.